Thailand Plans to Sell a 75% Stake
In Bangkok Metropolitan to HSBC

The Bank of Thailand has agreed to sell a 75% stake of Bangkok Metropolitan Bank PCL to HSBC Holdings PLC, a deal that will make BMB the fifth Thai bank to be majority-owned by foreign investors.

"We are drafting the agreement. It should be done soon," said central bank Governor Chatu Mongol Sonakul. He said several legal issues affecting the sale were still to be resolved, but he didn't elaborate.